AI capacity and products
Meta outlined plans to double compute capacity to 14GW in 2027 and separately discussed aggressive pricing for its first paid AI offering. OpenAI also announced the GPT-5.6 model series and ChatGPT Work.
Jul 9, 2026 · QQQ/SPY Market Review · 33 headlines
QQQ gains 1.62% as Meta compute plans, firm labor data and Hormuz risk share focus
QQQ opened 0.97% above its prior close and finished 1.62% higher, while SPY opened up 0.27% and ended 0.81% higher. QQQ led SPY by 0.81 percentage points at the final observation, with the lead widening in premarket and regular trading. Meta compute plans and new AI product reports kept technology investment in focus. Labor data were firmer than forecasts, while existing-home sales missed expectations. Iran and Hormuz developments remained an energy and geopolitical risk backdrop.
Published Updated
- QQQ
- +1.62%
- SPY
- +0.81%
- QQQ − SPY
- +0.81%
What shaped the session
Labor and housing data
Initial jobless claims came in at 215,000 versus a 218,000 forecast, while June existing-home sales were 4.09 million versus a 4.19 million estimate.
Iran and Hormuz risk
Trump said he was no longer sure he wanted an Iran deal and discussed further military attacks as Strait of Hormuz violence escalated.
Key news
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